GBPUSD Daily Analysis – March 20, 2020

GBPUSD extended its downside movement from 1.3199 to as low as 1.1409. Resistance is now at 1.1792, as long as this level holds, the downside movement could be expected to continue and next target would be at 1.1300 area. On the upside, a breakout of 1.1792 resistance would indicate that the downside movement had completed at 1.1409 already, then the pair would find next resistance level at around 1.2100.

GBPUSD 4-hour chart